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2022-206
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Last modified
10/31/2022 2:46:54 PM
Creation date
10/31/2022 2:39:31 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
First Amendment
Approved Date
10/11/2022
Control Number
2022-206
Agenda Item Number
8.D.
Entity Name
Nationwide Retirement Solutions, Inc. Corporation
Subject
First Amendment for recordkeeping services for Assets, termination of the ProAccount
Application for Group Flexible Purchase Payment Deferred Fixed Annuity Contract.
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Internet site. Nationwide shall implement reasonable physical and technical <br />safeguards to protect personal information made available on its Internet site. <br />Nationwide shall establish safeguards that are no less rigorous than generally accepted <br />industry practices. <br />2) Participants will have the unlimited ability to increase (within the limitations of Section <br />457(b) of the Code) or decrease contributions to the Plan. All requests to increase or <br />decrease contribution amounts will be processed by Nationwide within five (5) <br />Business Days of receipt of the request, but cannot be effective until the later of (1) the <br />first of the calendar month following the month in which the contribution change was <br />requested, and (2) the date the contribution change can be processed by the Plan <br />Sponsor given Plan Sponsor's payroll processing schedule. <br />3) Participants will have the ability to exchange existing account balances, in full or in <br />part, and to redirect future contributions from one investment option offered by the <br />Plan to another on any Business Day, subject to Nationwide policies and any applicable <br />restrictions or penalties applied by the investment options. <br />4) Participants will receive consolidated quarterly statements detailing their account <br />activity and account balances for the Plan. Participants shall be informed, via their <br />statements, that they must notify Nationwide of any errors within forty-five (45) days <br />of receipt of their statements or confirmation of their investments. Nationwide will not <br />be liable for any errors not reported within this time frame. <br />5) Nationwide agrees to deliver account statements (by U.S. mail or electronically) to <br />participants within thirty (30) calendar days after the end of each calendar quarter. This <br />timeframe is contingent upon Nationwide receiving fund returns from the mutual fund <br />providers within four (4) Business Days after the end of each quarter. If Nationwide <br />does not receive this information with four (4) Business Days then account statements <br />may be correspondingly delayed and will be delivered as soon as administratively <br />feasible. <br />6) Nationwide agrees to provide reports to the Plan Sponsor within thirty (30) days <br />following the end of each calendar year quarterly reporting period (March 31, June 30, <br />September 30, and December 31) summarizing the following: <br />a) All participant activity that transpired during the reporting period; <br />b) Total contributions allocated to each investment or insurance option under the <br />Plan; and <br />c) Total withdrawals by participant. This report shall include the amount, type and <br />date of withdrawal. <br />7) Nationwide agrees to maintain, for a reasonable amount of time, the records necessary <br />to produce any required reports. Plan Sponsor agrees that all related paper and <br />electronic records shall remain the property of Nationwide. <br />E. DISTRIBUTIONS <br />-7- <br />
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